AJ Bell AGM

sjw11

I am an AJ Bell investor, and very well they have done too, since launch, but I really do not understand what they are trying to push through at their forthcoming AGM.
Anyone else on here understand what is buried in the PDF ?
I can only assume that Bell, Lyons etc are trying to mitigate their personal tax liabilities
https://www.ajbell.co.uk/investor-relations/agm

LobsterMemory

Think it's to avoid triggering a mandatory bid for the company if the concert party goes over a threshold if, say, the company buys back their own shares or gives him extra shares as part of his Incentive plan

I don't know the true figures or percentages but the gist of it is

Say they own 24% and 25% forces a mandatory bid under Takeover rules

Then if the company bought back 5% of the shares then they will have more than25% of the company

Or if the company awarded them an extra 2% of the company in the Share plan then would also go over the 25% threshold

So the vote is to agree that they wouldn't have to bid for the company in such circumstances

I think it's fairly standard stuff if a company has this sort of shareholder ownership structure

bowlhead99

sjw11 wrote: »

I am an AJ Bell investor, and very well they have done too, since launch, but I really do not understand what they are trying to push through at their forthcoming AGM.
Anyone else on here understand what is buried in the PDF ?
I can only assume that Bell, Lyons etc are trying to mitigate their personal tax liabilities
https://www.ajbell.co.uk/investor-relations/agm

You need to be more specific about what you mean by 'what they are trying to push through at their forthcoming AGM' and what you think is 'buried' in the PDF.

Pages 3-6 of the pdf, within the Chairman's letter, is literally an explanation of each of the resolutions proposed (1 through 20) and further background information follows. I don't know what you mean by understanding what is buried - there is a 20 page AGM notice because it takes 20 pages to give you the information to help you understand what is happening. Some people will read it and some will not bother because they don't have enough votes to make a difference or generally don't care.

I also don't know what you mean about Bell, Lyons mitigating their personal tax liabilities and what they are 'pushing through' which would help them. You mean that part of their remuneration would be by share awards or BAYE opportunities rather than purely as salary? That happens in all large listed companies.

sjw11

Thank you for the explanations. I did try to read it, but as a habitually sceptical person, I always assume there is an ulterior motive. I do have some investments, but am not an expert by any means.
Any way their share price has not dropped like a brick, so I guess all is well